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17 hours ago
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Dec 21, 2025, 01:28:37 PM IST
Indian equities delivered record wealth creation between 2020 and 2025, supported by a sharp post-pandemic recovery, Motilal Oswal said in its December 2025 Wealth Creation Study. The brokerage noted that the top 100 companies created Rs 148 trillion in wealth, growing at a 38% CAGR. Against this backdrop, these 10 stocks emerged as the biggest wealth creators over five years.
ETMarkets.com
2/11
Telecom: Bharti Airtel
Bharti Airtel topped the wealth creation table, adding Rs 7.9 trillion in market value between 2020 and 2025, Motilal Oswal said. The stock also delivered a strong price CAGR over the period.
Reuters
3/11
Private banks: ICICI Bank
ICICI Bank ranked second, creating Rs 7.4 trillion in wealth over five years, according to Motilal Oswal. The brokerage highlighted its strong price and profit growth during the period.
Agencies
4/11
PSU banks: State Bank of India
State Bank of India added Rs 5.6 trillion in wealth between 2020 and 2025, Motilal Oswal data showed. The stock delivered a strong price CAGR as returns improved.
ETMarkets.com
5/11
Financial services: Bajaj Finance
Bajaj Finance created Rs 4.2 trillion in wealth over five years, Motilal Oswal said. The brokerage flagged strong price and earnings growth during the period.
IANS
6/11
Infrastructure: Larsen & Toubro
Larsen & Toubro added nearly Rs 4 trillion in market value between 2020 and 2025, according to Motilal Oswal. The brokerage noted a sharp rise in its price CAGR.
Reuters
ITC generated Rs 3.8 trillion in wealth over the five-year period, Motilal Oswal said. The stock saw a strong turnaround in price performance.
ETMarkets.com
8/11
IT services: HCL Technologies
HCL Technologies created Rs 3.7 trillion in wealth between 2020 and 2025, Motilal Oswal data showed. The brokerage highlighted steady price and profit growth.
ETMarkets.com
9/11
Pharmaceuticals: Sun Pharma
Sun Pharma added Rs 3.5 trillion in wealth over five years, according to Motilal Oswal. The brokerage flagged a sharp acceleration in price growth.
Agencies
10/11
Automobiles: Mahindra & Mahindra
Mahindra & Mahindra created Rs 3.1 trillion in wealth between 2020 and 2025, Motilal Oswal said. The stock benefited from a turnaround from losses to profits.
Reuters
NTPC rounded out the top 10, adding nearly Rs 3 trillion in wealth over five years, Motilal Oswal said. The brokerage highlighted steady price growth during the period.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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